Call 844.HSBC.MTG (844.472.2684)
Premier1 clients receive a
0.50%
auto-pay rate discount3
Advance2 clients receive a
0.25%
auto-pay rate discount3
Make an Initial Draw of $25,000 or more at closing and receive a 0.25% rate discount.
Home equity is the difference between the current market (appraised) value of your home and the outstanding balance of your mortgage and all other liens on the property. Our Home Equity Line of ChoiceSM can help turn your home's equity into a source of cash for home improvements, debt consolidation or other major expenses. Enjoy the convenience of time and money-saving features, such as:
Additional resources
Our home equity resources can help you decide whether a Home Equity Line of ChoiceSM is right for you and your family. Learn more with our Home Equity FAQs, and Home Equity Information Checklist.
1 To be eligible for an HSBC Premier home equity line of credit, you must be a Premier or Jade relationship customer with a U.S. Premier checking account. To learn more about the Premier or Jade relationship requirements contact an HSBC branch or call toll free at 866.801.6756.
2 To be eligible for an Advance home equity line of credit, you must be an Advance relationship customer with a U.S. Advance checking account. To learn more about the Advance relationship requirements contact an HSBC branch or call toll free at 844.374.9016.
3 Discounts and loan amount depend on specific program and may require certain Permier or Advance balances, reserves, equity and automatic payment from HSBC U.S. Premier or Advance checking Account. For home equity, the Premier and Advance APR includes an auto-pay discount of .50% and .25%, respectively.
4 The Annual Percentage Rate (APR) for a Home Equity Line of ChoiceSM is variable and is based on the U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. If The Wall Street Journal publishes more than one U.S. Prime Rate for a day, the Index will be the average of those rates. The index as of the last change date of September 27, 2018 is 5.25%. The maximum APR is the greater of 15.9% or 5% above the initial APR. The APR will not increase or decrease by more than 4% in each year. Rates apply to lines secured by your primary residence (excluding co-ops and 3-4 family property) with a total loan-to-value ("TLTV") ratio of 80% or less. Higher rates may apply for different TLTV's, property and product types. Please contact us for current rates on lines with different terms. The APR does not include closing costs. For line amounts of $500,000 or less, HSBC will pay all closing costs. For line amounts greater than $500,000, you will be required to pay 50% of title insurance costs and any mortgage tax-like fees; however, HSBC will pay all other closing costs. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. No annual or application fees will be assessed. Your Home Equity account will be secured by a mortgage on your home. All persons on the deed must sign the mortgage. Property insurance is required and flood insurance may be required.
5 Consult your tax advisor for details on tax deductibility of interest paid on loans secured by your home.
6 The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Up to three balances can be fixed at one time. Additional conditions apply.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
It's easy: call us at 844.HSBC.MTG (844.472.2684).
How is a Home Equity Line of ChoiceSM different from a standard Home Equity Line of Credit?
Home Equity Line of ChoiceSM gives you the flexibility of a line of credit with the option of a fixed-rate loan1. If you are concerned about rising rates, you have the option to request all or a portion of the outstanding balance be set up as a fixed-rate loan.
How many fixed-rate loan segments can I have with my Home Equity Line of ChoiceSM?
You can have up to three fixed-rate loans at one time.
How do I request a fixed-rate loan segment from my Home Equity Line of ChoiceSM?
It's easy: just contact an HSBC Mortgage Professional at 844.472.2684 and let one of our representatives walk you through it. Please call 855.527.8400 for more information. HSBC Premier Clients can contact us at 855.806.4660, Private Bank clients can contact 855.806.4664 and Jade Clients can call 855.806.4661.
How long is the option to request a fixed-rate loan segment available to me?
You can request a fixed-rate loan segment at anytime during the access (draw) period of the account. An access or draw period is the time during which you are allowed to use the funds which will be defined when you open your line of credit.
Is there a minimum amount for a fixed-rate loan segment?
The minimum fixed-rate loan segment amount is $5,000.
How will I be billed if I request a fixed-rate loan segment?
All outstanding advances and fixed-rate loan segment payments will appear on one monthly billing statement, with one due date and one payment. Balance and rate information will be disclosed individually for each advance and loan segment.
Are there any additional fees required to apply for the Home Equity Line of ChoiceSM?
There is no application fee, no annual fee or closing cost for lines up to $500,0002.
Will I be charged a fee if I make a late payment?
You will be charged a Late Charge of 5% of the amount of the Minimum Payment if you are more than 15 days late in making a Minimum Payment.
Are there potential tax advantages with a Home Equity Line of ChoiceSM?
Yes, you may be eligible to deduct up to 100% of the interest you pay on your HSBC home equity account. However, individual circumstances affect tax situations. You should talk to your tax advisor to determine your home equity interest deduction eligibility.
Can I have my payments deducted from my checking account?
Yes. You have three options:
What if I have more questions?
We will be happy to help.
1 The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Up to three balances can be fixed at one time. Additional conditions apply.
2 The Annual Percentage Rate (APR) for a Home Equity Line of ChoiceSM is variable and is based on the U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. If The Wall Street Journal publishes more than one U.S. Prime Rate for a day, the Index will be the average of those rates. The index as of the last change date of September 27, 2018 is 5.25%. The maximum APR is the greater of 15.9% or 5% above the initial APR. The APR will not increase or decrease by more than 4% in each year. Rates apply to lines secured by your primary residence (excluding co-ops and 3-4 family property) with a total loan-to-value ("TLTV") ratio of 80% or less. Higher rates may apply for different TLTV's, property and product types. Please contact us for current rates on lines with different terms.
The APR does not include closing costs. For line amounts of $500,000 or less, HSBC will pay all closing costs. For line amounts greater than $500,000, you will be required to pay 50% of title insurance costs and any mortgage tax-like fees; however, HSBC will pay all other closing costs. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. No annual or application fees will be assessed. Your Home Equity account will be secured by a mortgage on your home. All persons on the deed must sign the mortgage. Property insurance is required and flood insurance may be required.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
To apply for an HSBC Home Equity Line of ChoiceSM, please have the following information at hand:
Documents you may need:
During the credit process, you may be asked to provide copies of the following, if applicable:
Complete signed proprietary lease
Stock certificates
Most recent Co-op corporation's financial statement
Monthly maintenance statement
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
Key Facts about Non-Traditional Mortgage Features
Interest-Only Mortgages
Whether you are buying a house or refinancing your mortgage, this information can help you decide if an interest-only.mortgage is right for you.
An “interest-only” mortgage allows you to pay only the interest on the money you borrowed for the first few years of the mortgage. This is known as the “interest-only period” (for example, the first 5 years of the loan). If you only pay the amount of interest that’s due, once the interest-only period ends:
Additional Information
Home Equity
Home equity is created when the value of your home increases and/or when you reduce the amount you owe on your home through your loan payments. If your home does not increase in value and you make interest-only payments, you are not building equity. This may make it harder to refinance your mortgage, or to receive funds from the sale of your home. In fact, if the amount you owe on your home, along with the costs associated with selling it (such as the real estate sales commissions and closing costs) exceeds the sale price, you will not receive any cash when you sell, and will have to pay additional funds to your lender or to parties when you pay off your mortgage.
Early Termination Fees
Some home equity products have early termination fees. If you refinance your line/loan or pay your account in full during the first three years of your home equity, you could owe an additional early termination fee. Ask whether your home equity product has an early termination fee and, if so, how much it can be.
No Doc/Low Doc Loans
Lenders often charge more for “reduced documentation” loans. These loans typically have higher interest rates or other costs compared to “full documentation” loans that require you to verify your income and other assets. (By verifying your income, you help the lender to be sure that you can afford the loan payments.) If you are considering a loan with a reduced documentation feature, ask if you’ll be required to pay more (in interest and/or fees) for not submitting income and asset documentation.
Provided for informational purposes. Not all features apply to or are available with products offered by HSBC.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
Premier1 clients receive a
0.50%
auto-pay rate discount3
Advance2 clients receive a
0.25%
auto-pay rate discount3
Make an Initial Draw of $25,000 or more at closing and receive a 0.25% rate discount.
Home equity is the difference between the current market (appraised) value of your home and the outstanding balance of your mortgage and all other liens on the property. Our Home Equity Line of ChoiceSM can help turn your home's equity into a source of cash for home improvements, debt consolidation or other major expenses. Enjoy the convenience of time and money-saving features, such as:
Additional resources
Our home equity resources can help you decide whether a Home Equity Line of ChoiceSM is right for you and your family. Learn more with our Home Equity FAQs, and Home Equity Information Checklist.
1 To be eligible for an HSBC Premier home equity line of credit, you must be a Premier or Jade relationship customer with a U.S. Premier checking account. To learn more about the Premier or Jade relationship requirements contact an HSBC branch or call toll free at 866.801.6756.
2 To be eligible for an Advance home equity line of credit, you must be an Advance relationship customer with a U.S. Advance checking account. To learn more about the Advance relationship requirements contact an HSBC branch or call toll free at 844.374.9016.
3 Discounts and loan amount depend on specific program and may require certain Permier or Advance balances, reserves, equity and automatic payment from HSBC U.S. Premier or Advance checking Account. For home equity, the Premier and Advance APR includes an auto-pay discount of .50% and .25%, respectively.
4 The Annual Percentage Rate (APR) for a Home Equity Line of ChoiceSM is variable and is based on the U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. If The Wall Street Journal publishes more than one U.S. Prime Rate for a day, the Index will be the average of those rates. The index as of the last change date of September 27, 2018 is 5.25%. The maximum APR is the greater of 15.9% or 5% above the initial APR. The APR will not increase or decrease by more than 4% in each year. Rates apply to lines secured by your primary residence (excluding co-ops and 3-4 family property) with a total loan-to-value ("TLTV") ratio of 80% or less. Higher rates may apply for different TLTV's, property and product types. Please contact us for current rates on lines with different terms. The APR does not include closing costs. For line amounts of $500,000 or less, HSBC will pay all closing costs. For line amounts greater than $500,000, you will be required to pay 50% of title insurance costs and any mortgage tax-like fees; however, HSBC will pay all other closing costs. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. No annual or application fees will be assessed. Your Home Equity account will be secured by a mortgage on your home. All persons on the deed must sign the mortgage. Property insurance is required and flood insurance may be required.
5 Consult your tax advisor for details on tax deductibility of interest paid on loans secured by your home.
6 The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Up to three balances can be fixed at one time. Additional conditions apply.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
Deposit products are offered in the U.S. by HSBC Bank USA, N.A. Member FDIC.
It's easy: call us at 844.HSBC.MTG (844.472.2684).
How is a Home Equity Line of ChoiceSM different from a standard Home Equity Line of Credit?
Home Equity Line of ChoiceSM gives you the flexibility of a line of credit with the option of a fixed-rate loan1. If you are concerned about rising rates, you have the option to request all or a portion of the outstanding balance be set up as a fixed-rate loan.
How many fixed-rate loan segments can I have with my Home Equity Line of ChoiceSM?
You can have up to three fixed-rate loans at one time.
How do I request a fixed-rate loan segment from my Home Equity Line of ChoiceSM?
It's easy: just contact an HSBC Mortgage Professional at 844.472.2684 and let one of our representatives walk you through it. Please call 855.527.8400 for more information. HSBC Premier Clients can contact us at 855.806.4660, Private Bank clients can contact 855.806.4664 and Jade Clients can call 855.806.4661.
How long is the option to request a fixed-rate loan segment available to me?
You can request a fixed-rate loan segment at anytime during the access (draw) period of the account. An access or draw period is the time during which you are allowed to use the funds which will be defined when you open your line of credit.
Is there a minimum amount for a fixed-rate loan segment?
The minimum fixed-rate loan segment amount is $5,000.
How will I be billed if I request a fixed-rate loan segment?
All outstanding advances and fixed-rate loan segment payments will appear on one monthly billing statement, with one due date and one payment. Balance and rate information will be disclosed individually for each advance and loan segment.
Are there any additional fees required to apply for the Home Equity Line of ChoiceSM?
There is no application fee, no annual fee or closing cost for lines up to $500,0002.
Will I be charged a fee if I make a late payment?
You will be charged a Late Charge of 5% of the amount of the Minimum Payment if you are more than 15 days late in making a Minimum Payment.
Are there potential tax advantages with a Home Equity Line of ChoiceSM?
Yes, you may be eligible to deduct up to 100% of the interest you pay on your HSBC home equity account. However, individual circumstances affect tax situations. You should talk to your tax advisor to determine your home equity interest deduction eligibility.
Can I have my payments deducted from my checking account?
Yes. You have three options:
What if I have more questions?
We will be happy to help.
1 The fixed rate loan option provides the ability to fix the interest rate on all or a portion of the outstanding balance during the draw period. Up to three balances can be fixed at one time. Additional conditions apply.
2 The Annual Percentage Rate (APR) for a Home Equity Line of ChoiceSM is variable and is based on the U.S. Prime Rate published each day in The Wall Street Journal (but not the Weekend Edition of The Wall Street Journal) (the "Index") plus a margin. If The Wall Street Journal publishes more than one U.S. Prime Rate for a day, the Index will be the average of those rates. The index as of the last change date of September 27, 2018 is 5.25%. The maximum APR is the greater of 15.9% or 5% above the initial APR. The APR will not increase or decrease by more than 4% in each year. Rates apply to lines secured by your primary residence (excluding co-ops and 3-4 family property) with a total loan-to-value ("TLTV") ratio of 80% or less. Higher rates may apply for different TLTV's, property and product types. Please contact us for current rates on lines with different terms.
The APR does not include closing costs. For line amounts of $500,000 or less, HSBC will pay all closing costs. For line amounts greater than $500,000, you will be required to pay 50% of title insurance costs and any mortgage tax-like fees; however, HSBC will pay all other closing costs. Generally, closing costs are estimated to range from $270 to $19,900, but may be higher depending on the location of your home and the amount of your line of credit. If you terminate your account within the first three years, you will have to pay an early termination fee of $500 (or $750 for properties located in California and Virginia), plus any mortgage tax-like fees paid by HSBC at the time your account was established. No annual or application fees will be assessed. Your Home Equity account will be secured by a mortgage on your home. All persons on the deed must sign the mortgage. Property insurance is required and flood insurance may be required.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
To apply for an HSBC Home Equity Line of ChoiceSM, please have the following information at hand:
Documents you may need:
During the credit process, you may be asked to provide copies of the following, if applicable:
Complete signed proprietary lease
Stock certificates
Most recent Co-op corporation's financial statement
Monthly maintenance statement
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
Key Facts about Non-Traditional Mortgage Features
Interest-Only Mortgages
Whether you are buying a house or refinancing your mortgage, this information can help you decide if an interest-only.mortgage is right for you.
An “interest-only” mortgage allows you to pay only the interest on the money you borrowed for the first few years of the mortgage. This is known as the “interest-only period” (for example, the first 5 years of the loan). If you only pay the amount of interest that’s due, once the interest-only period ends:
Additional Information
Home Equity
Home equity is created when the value of your home increases and/or when you reduce the amount you owe on your home through your loan payments. If your home does not increase in value and you make interest-only payments, you are not building equity. This may make it harder to refinance your mortgage, or to receive funds from the sale of your home. In fact, if the amount you owe on your home, along with the costs associated with selling it (such as the real estate sales commissions and closing costs) exceeds the sale price, you will not receive any cash when you sell, and will have to pay additional funds to your lender or to parties when you pay off your mortgage.
Early Termination Fees
Some home equity products have early termination fees. If you refinance your line/loan or pay your account in full during the first three years of your home equity, you could owe an additional early termination fee. Ask whether your home equity product has an early termination fee and, if so, how much it can be.
No Doc/Low Doc Loans
Lenders often charge more for “reduced documentation” loans. These loans typically have higher interest rates or other costs compared to “full documentation” loans that require you to verify your income and other assets. (By verifying your income, you help the lender to be sure that you can afford the loan payments.) If you are considering a loan with a reduced documentation feature, ask if you’ll be required to pay more (in interest and/or fees) for not submitting income and asset documentation.
Provided for informational purposes. Not all features apply to or are available with products offered by HSBC.
Mortgage and home equity products are offered in the U.S. by HSBC Bank USA, N.A. and are only available for properties located in the U.S. Subject to credit approval. Borrowers must meet program qualifications. Programs are subject to change. Geographic and other restrictions may apply. Discounts can be cancelled or are subject to change at any time and cannot be combined with any other offer or discount.
